Wear Point Wind Farm near Milford Haven reaches financial close
Infinergy has teamed up with infrastructure company John Laing for the construction and operation stages of Wear Point Wind Farm. Together the parties organised project finance and construction of the wind farm is scheduled for 2013. Please see our press release below.
JOHN LAING AND INFINERGY ACHIEVE FINANCIAL CLOSE ON ONSHORE WIND FARM IN PEMBROKESHIRE
Wear Point Wind Ltd, a consortium consisting of John Laing and wind developers Infinergy has achieved financial close on the 8.2MW Wear Point Wind Farm near Milford Haven in Pembrokeshire. John Laing and Infinergy own an 80% and a 20% share in the facility respectively.
The plans for the wind farm have been developed by Infinergy and planning permission was granted in May 2010 by Pembrokeshire County Council.
It is anticipated that the facility will generate enough electricity to meet the needs of approximately 4,500 homes per year*.
Ross McArthur, Head of Renewable Energy for John Laing, said: “We are delighted to have achieved financial close on Wear Point Wind Farm and look forward to working with our partner, Infinergy, to help deliver clean, renewable electricity to communities across the UK”.
Infinergy’s Managing Director Esbjorn Wilmar, said: “After all the hard work that has gone into this project over the past four years it is very exciting to see it move to the next stage. I am delighted that John Laing has come on board to invest in and co-own the wind farm and I hope that this will be the start of a fruitful cooperation between our two companies.”
The wind turbine technology, hubs, blades and a full 15-year service package will be provided by REpower UK whilst the towers are anticipated to be produced by Mabey Bridge in Chepstow. Each MM82 wind turbine will have a generating capacity of 2.05MW. The overall height of the turbines will be 99.9m. Infinergy and its parent company KDE Energy will provide the asset management services for the project.
The balance of plant contractor will be Raymond Brown Cymru from Bridgend, who tendered successfully again after having constructed Infinergy’s Castle Pill and Ferndale Wind Farms in Wales. The total net investment for Wear Point Wind Farm will be £14.3m, of which a significant amount will be flowing into the Welsh economy. Debt financing is provided by Nord/LB, who acted as sole mandated lead arranger. All generated power will be sold to Statkraft under a 15 year Power Purchase Agreement.
Work to install the wind turbines and supporting site infrastructure is due to start early next year and the project is scheduled to be fully operational by the end of 2013.
*Source: Renewable UK
Notes to Editors
About Wear Point Wind Farm
Milford Haven is fast becoming the UK energy capital and with Wear Point Wind Farm installed, wind energy is being added to the existing energy mix infrastructure. The wind farm has an expected lifetime of 25 years.
When constructed, it is expected that the power generated by the wind farm will save the emissions of between 7,400 and 17,600 tonnes of the greenhouse gas carbon dioxide (CO2) every year, had the electricity otherwise been produced by gas or coal fired power stations respectively. These calculations take the variability of power output due to changing wind speeds into consideration and are considered industry standard. Source: Renewable UK.
About John Laing
John Laing plc is a specialist provider of infrastructure with a long-term perspective and approach. The company manages and delivers 74 projects from planning and funding through to design, construction and operation. It is actively involved in the management of a wide range of renewable energy, health, education, police, rail, roads and special purpose government facilities, both in the UK and overseas.
About Infinergy Ltd
Infinergy is a renewable energy company, committed to the increase of renewable energy use in the UK. In close cooperation with Councils, consultees and communities Infinergy develops onshore wind farms in Wales, England and Scotland. Infinergy is a wholly owned subsidiary of KDE Energy of The Netherlands. Wear Point Wind Farm is the third wind farm the company will be constructing in Wales. Castle Pill Wind Farm in Steynton and Ferndale Wind Farm in the Rhondda Valleys have been contributing to the Welsh economy through construction, operation and maintenance contracts. Please visit www.infinergy.co.uk
About REpower UK
REpower UK is the UK subsidiary of German wind manufacturer REpower Systems SE, a wholly owned subsidiary within Suzlon group, one of the world’s leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops, produces and markets wind turbines for almost any location – with rated outputs of 1.8 to 6.15MW and rotor diameters of 82 to 126 metres.
About Raymond Brown Group
The Raymond Brown Group
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